Hsbc Holdings PLC Cuts Holdings in Central Garden & Pet (NASDAQ:CENTA)

Hsbc Holdings PLC lowered its stake in shares of Central Garden & Pet (NASDAQ:CENTA) by 59.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,882 shares of the company’s stock after selling 12,801 shares during the period. Hsbc Holdings PLC’s holdings in Central Garden & Pet were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Central Garden & Pet by 161.7% during the third quarter. Barclays PLC now owns 122,530 shares of the company’s stock worth $3,849,000 after acquiring an additional 75,718 shares in the last quarter. Denali Advisors LLC purchased a new position in Central Garden & Pet in the 4th quarter worth $1,573,000. Principal Financial Group Inc. lifted its stake in Central Garden & Pet by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 268,331 shares of the company’s stock worth $8,868,000 after purchasing an additional 8,889 shares during the last quarter. Highbridge Capital Management LLC boosted its position in Central Garden & Pet by 89.8% during the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company’s stock valued at $22,667,000 after buying an additional 324,493 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Central Garden & Pet during the fourth quarter valued at about $473,000. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the transaction, the insider now owns 67,111 shares of the company’s stock, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 20.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CENTA has been the subject of several analyst reports. StockNews.com cut Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial restated a “hold” rating and issued a $35.00 target price (down previously from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Central Garden & Pet presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Central Garden & Pet Price Performance

Shares of CENTA stock opened at $30.72 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47. Central Garden & Pet has a fifty-two week low of $27.70 and a fifty-two week high of $41.03. The firm has a market cap of $2.01 billion, a P/E ratio of 16.88 and a beta of 0.68. The business’s 50 day moving average price is $31.36 and its 200-day moving average price is $31.92.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.10. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. The business had revenue of $833.54 million for the quarter, compared to analysts’ expectations of $876.36 million. On average, equities research analysts anticipate that Central Garden & Pet will post 2.38 earnings per share for the current year.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on dog and cat supplies such as dog treats and chews, toys, pet beds and containment, grooming products, waste management and training pads, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.